English learning centres to drive demand for workspaces in Metro Cebu
The English as a Second Language (ESL) tutorial segment will become a future driver of the office market in the Philippines’ second largest metropolis, according to Colliers International via The Manila Times.
The growth of ESL centers is expected to continue and will boost demand for office spaces in Metro Cebu, the consultants said. “Colliers sees continued expansion of existing ESL centers as well as the entry of new players.
“We encourage developers to assess the office space requirements of these firms.”
Office stock in Metro Cebu hit 1.05 million square metres in 2018, rising nine percent from 970,000 square metres in 2017 due to an upswing in locators led by Philippine Online Gaming Operators (POGOs).
In addition, “BPO (business process outsourcing) tenants have been looking for PEZA-proclaimed spaces in areas outside Metro Manila to enjoy tax and non-tax incentives,” Colliers research manager Joey Roi Bondoc wrote in a recent report.
“Among the more viable alternative sites are Cavite, Cebu, Bacolod, Iloilo, Clark, and Davao,” he added.
The consultancy called on the Filipino government to expedite the proclamation of economic zones for office locators in provincial areas.
A former American colony, the Philippines is home to a large English-speaking workforce.
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